Dale Capital : ZXDCG- FURTHER CAUTIONARY AND CHANGE IN ACCOUNTING PERIOD

FURTHER CAUTIONARY AND CHANGE IN ACCOUNTING PERIOD

30 March 2022

Further to the cautionary statements released by Dale on 29 September 2021 and 13 January 2022, the Board of Directors (the "Board") of the Company now wishes to inform its shareholders and the public at large that its majority owned subsidiary, St. Felix Brands Limited has entered into a management agreement with Maxima 5 Capital Partners (Mauritius) Limited (the "Manager") to provide management services for its subsidiaries, namely St. Felix Seafood Limited, Dale Agriculture Investments Limited and Maxima 5 Food Services Limited ("Management Agreement").

The Management Agreement includes a non-binding intent by the parties with full understanding that the Manager intends to acquire a majority equity ownership in the subsidiaries of the Company and the intention is to conclude a share purchase agreement by 31 May 2022. After discussion with the prospective new partners and upon recommendation by management and the Group Auditors, the directors have deemed it appropriate and advisable to change the financial year end of Dale from 28 February to 30 June, with the next published audited financials being for the period from 1 March 2021 to 30 June 2022.

A further announcement will be made once the change in financial year end has been approved by the relevant Authorities.

By order of the Board
30 March 2022

Appointed Advisor
AcaciaCap Advisors
Proprietary Limited

SEM authorised representative and sponsor
Perigeum Capital

Company Secretary
NWT Secretarial Services Ltd

This announcement is issued pursuant to SEM Listing Rule 15.24, the ZAR X Listing Rules and the Mauritian Securities Act 2005. The Board of the Company accepts full responsibility for the accuracy of the information in this announcement.